Global Licensed Sports Merchandise Market: Rising Sales across E-commerce Stores to Help Market Expand Geographical Horizons

In the highly competitive global market for licensed sports merchandise, the introduction of innovative and technologically advanced products is key to growth and improved rate of consumer retention, observes a recent report published by Transparency Market Research (TMR). Of late, emergence and increased consumer adoption of product categories such as smart clothing, which include workout gear capable of monitoring vital workout signs, reactive materials or fabrics, and wearable devices have changed the consumer perception about sports merchandise by leaps and bounds.

Some of the key companies to have played a major role in bringing about this change in the global market are Adidas - Reebok, Nike Inc., VF Corporation, G-III Apparel, Dick's Sporting Goods, Jarden Corporation, Knight Apparels, New Era Cap, Under Armour, and Great American Products.

North America to Remain Top Regional Player

Transparency Market Research estimates that the global licensed sports merchandise market will exhibit a healthy 6.4% CAGR from 2016 through 2024. If the prediction holds true, the market will rise from a valuation of US$27.63 bin in 2015 to US$48.17 bn by 2024. Of the key product categories in the market, the segment of sports apparel dominated in 2015, accounting for 39.8% share of the market’s total revenues.

Request To Get The Sample Copy Of This Report : http://www.marketresearchreports.biz/sample/sample/212719

From a geographical perspective, North America dominated the global licensed sports merchandise market in 2015, accounting for a nearly 54% of the market’s overall revenues. The region is also expected to retain dominance over the forecast period in terms of revenue contribution to the global market, but is likely to lose prominence to Asia Pacific in terms of growth rate.

Rising Popularity of Sports Leagues to Prove Beneficial to Market

In developed regions such as North America, which alone accounts for more than half of the global licensed sports merchandise market’s revenues, the demand for licensed sports merchandise is chiefly driven by the rising popularity of sporting leagues and their increasing fan bases. In the region, prominent sporting leagues such as the Major League Baseball (MLB), the National Football League (NFL), and the National Basketball Association (NBA) enjoy huge popularity in merchandise sales. The NFL and MLB together account for nearly 50% of the North America licensed sports merchandise market in terms of revenue. In 2014, retail sales of NFL merchandise witnessed a rise of nearly 5.2% as compared to 2013.

In other developed and developing regions, the rising e-commerce or online sales have had a notable impact on the market’s growth in addition to the factor of rising fan following of prominent sporting leagues. The rapid expansion of the Internet and the growing acceptance of e-commerce as a safe and viable alternative to traditional bricks-and-mortar retailing, have supported growth of the licensed sports merchandise market in countries such as India and China. In the near future a potential rise in the number of e-commerce and fashion websites is set to create lucrative growth opportunities for the market.

Rising Demand for Pirated Merchandise to Keep Market Growth in Check

Piracy of licensed sports products such as t-shirts, jerseys, and hats has increased at a significant rate in the global market in the past few years. The increased global consumption of pirated products is a key factor holding back the market for licensed sport merchandise. According to The Street, an American financial news and services website, the worldwide sales of counterfeit products are growing in the sports world, with counterfeit goods valuing up to US$960 bn in 2015 alone. The rising problem of piracy of sports products is likely to pose a serious threat to the licensed sports merchandise market, which in turn is projected to restrain the global licensed sports merchandise market in the next few years.

This review of the market is based on a market research report recently published by Transparency Market Research, titled “Licensed Sports Merchandise Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”

For the study, the global licensed sports merchandise market is segmented into:

Global Licensed Sports Merchandise, Product Category Analysis

Sports Apparel
Sports Footwear
Sports Accessories and Toys
Video games or Software
Domestic and House wares
Others (souvenirs, gifts/novelties, consumer electronics, food and beverage etc.)
Global Licensed Sports Merchandise, Distribution Channel Type Analysis

E-Commerce or online stores
Offline Stores
Department Stores
Specialty Stores
Others (mass stores, supermarket, discount stores etc.)
Global Licensed Sports Merchandise, Regional Analysis

North America
U.S.
Rest of North America
Europe
Germany
Italy
U.K.
France
Rest of Europe
Asia-Pacific
China
India
Japan
Rest of Asia Pacific
Middle East and Africa
UAE
South Africa
Rest of MEA
Latin America
Brazil
Rest of Latin America

MarketResearchReports.biz supports your business intelligence needs with over 100,000 market research reports, company profiles, data books, and regional market data sheets in its repository. Our document database is updated by the hour, which means that you always have access to fresh data spanning over 300 industries and their sub-segments.

State Tower
90 State Street, Suite 700
Albany, NY 12207
United States

Toll Free: 866-997-4948
(USA-CANADA)

Tel: +1-518-621-2074
E: sales@marketresearchreports.biz

This release was published on openPR.